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Ascot Lloyd Bellpenny to become fully independent

Ascot Lloyd Bellpenny to become fully independent

Ascot Lloyd Bellpenny will be rebranded following the merger which created the national advice firm last year.

It means 'Bellpenny' will be dropped from the company's name and the intermediary will become fully independent.

Ascot Lloyd was independent while Bellpenny had an independent arm called BIA Financial Planning following its purchase of EFG Independent Financial Advisers in early 2017.

The two companies merged last year to create a financial planning company with £6bn in funds under management.

It means Ascot Lloyd Bellpenny has become one of the largest independently-owned wealth management businesses in the UK.

Last week it emerged the company had struck its first deal since the merger with the purchase of Yorkshire-based Pantheon Financial.

The company's chief executive Nigel Stockton has said the scale Ascot Lloyd Bellpenny has following the merger would allow it to buy "just about anything".

The combined organisation has more than 100 advisers, looking after more than 40,000 fee-paying clients.

damian.fantato@ft.com

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